What actually determines the cost of receiving USD
- Conversion fee and the spread baked into the rate (a low advertised fee means nothing if the spread eats the difference).
- IOF and settlement speed.
- Whether you can hold a dollar balance and who controls it (self-custody vs the provider holding your funds).
- Card, sending and crypto, and the quality of business support.
Watch out for hidden spreads
Many accounts advertise "no fee" but bury the margin in the rate: the quote you get is worse than the real one. Ruvo shows the market rate and charges an explicit fee on top, so you know exactly what you are paying.
A practical example: receiving $4,000 a month
- Traditional bank via SWIFT: often costs 4%–8% all-in, or roughly $160–$320 per month. That's up to $3,840 per year, with funds typically taking several business days to arrive.
- Other fintechs: commonly charge 1.5%–4%, or about $60–$160 per month.
- Ruvo: 0.3% for businesses (~$12 per month) or 0.9% for individuals (~$36 per month), with 0% IOF, free to receive, and Pix settlement in seconds.
For a detailed breakdown at $5,000/month, see our developer case study.
What’s not included in your rate
- Lets you hold USD instead of forcing an immediate conversion to reais, so you are not pushed into a bad rate at the wrong moment — including the gap between market-hour and off-hour pricing.
- Clearly explains whether your funds are custodied by the provider or held in accounts you directly control.
- Doesn't impose restrictive receiving limits or recurring monthly fees.
- Includes useful features such as a card, local transfers, and the ability to send funds.
- Allows Pix transfers to third parties, not just your own bank account.
- Provides fast, responsive customer support when issues arise.
Choosing the right account
- Recurring USD income as a business? Focus on low costs and holding dollars. See how to receive USD as a business.
- Comparing providers? See Wise vs Ruvo and Nomad vs Ruvo for direct comparisons.
- Spending abroad frequently? A 0% IOF card can often save more than small FX differences, depending on how you spend.
- Working remotely for a foreign company? Your employment structure also affects which account works best — see our guide to remote work for foreign companies.
Pix to any key, not just your own
Ruvo is fully integrated with Pix: add reais and cash out to BRL in seconds, and send to any Pix key in Brazil, CPF, CNPJ, phone, email or a random key. That means you can pay suppliers, contractors, family or yourself directly. Many dollar accounts only let you Pix to your own key, so money can come back to you but cannot pay anyone else. With Ruvo, your dollar balance reaches anyone in Brazil instantly.
Where Ruvo wins
With Ruvo, users moving large amounts benefit most from low FX spreads and holding USD in self-custody, while frequent travelers and spenders gain more from a 0% IOF card. Ruvo combines both: receive funds with no incoming fees, hold USD under your control, convert at 0.3% (business) or 0.9% (individual), spend on a 0% IOF card, and send via Pix, ACH, Wire, or crypto.
How to compare your options
| Criteria | Ruvo | Traditional banks | Other fintechs |
|---|---|---|---|
| IOF | 0% | 0.38% in, 3.5% out | Varies |
| FX (business) | From 0.3% | 4% to 8% (all-in) | 1.5% to 4% |
| Settlement | Instant (Pix) | 1 to 5 business days | Hours to 1 day |
| Dollar balance | Yes, self-custody (USDC/USDT) | Rarely | Sometimes (custodial) |
| International card | 0% IOF, 0% spread | With IOF | Varies |
| Send / crypto | Any Pix key, ACH, Wire, crypto | No | Often own Pix key only |
Sources
- Decree 12.499/2025, IOF rates (Planalto)
- IOF rate guide for Decree 12.499/2025 (Lefosse)
- IOF on international operations, what changed (CRCSP)
Updated on October 7, 2026
This content is for information only and is not financial or tax advice. How we write
